Monday newspaper round-up: Brexit, train fares, Harwood Capital, House of Fraser
Companies are suffering from a “supply shock” as fewer EU citizens come to the UK, and companies struggle to fill vacancies, according to a survey of 2,000 employers. The Chartered Institute of Personnel and Development (CIPD) said the number of applicants per vacancy had fallen since last summer across all levels of skilled jobs, and said shortages were forcing many companies to raise wages. – Guardian
Train passengers will learn of wage-busting fare increases this week, despite chaotic scenes at stations on the Northern network after a third successive wave of Sunday cancellations. The fare increases – expected to amount to 3.5% from next January – will add hundreds of pounds to the cost of many season tickets even though new figures from Which? reveal that punctuality and customer satisfaction with Britain’s railways has slumped. – Guardian
Businesses are being urged to take more notice of older staff as a growing number of EU jobseekers steer clear of UK-based roles in the wake of Brexit. Millions of over-50s feel unsupported by their employer despite rising living costs and insufficient pension savings meaning they plan to retire later than once hoped, research shows. The study, conducted by Aviva, found over 6m over-50s currently in work planned to retire later than they thought they would a decade ago, but more than two fifths felt that their career ambitions were not being taken seriously. – Telegraph
Harwood Capital, the fund run by JO Hambro founder Christopher Mills, is planning a £175m float of part of its property arm to capitalise on demand for rented homes. Harwood Real Estate is understood to be considering an initial public offering on the main market in the coming weeks for its private rented sector division, which would make it the first listed company to target pre-built housing units exclusively for renters. – Telegraph
One of the losing bidders for House of Fraser has urged its new owner Mike Ashley to “do the right thing” and pay all its suppliers and concession holders in full because he clinched the deal so cheaply. Philip Day, the retail billionaire behind Edinburgh Woollen Mill, spoke out 48 hours after the Sports Direct owner snapped up the stores and assets within hours of House of Fraser entering administration. – The Times
Theresa May’s plan for a bespoke customs deal with the European Union is based on flawed analysis described by trade experts last night as “fanciful”. Scrutiny of the proposal on behalf of The Times cast doubt over the central pledge that the vast majority of businesses would pay the right or no tariff at the border. Business experts also questioned another key part of the plan: that businesses would be able reliably to track goods to their final destination. This issue is critical to the EU, which fears the scheme could become a backdoor smuggling route into the continent. - The Times